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Violation Tracker Individual Record

Company: Household Finance Corp.
Current Parent Company: HSBC
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Penalty: $484,000,000
Year: 2002
Date: October 10, 2002
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: Household Finance agreed to pay $484 million to settle multistate litigation alleging that its mortgage business misrepresented terms to borrowers and failed to disclose important information to them.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.